What do US or UK citizens who live in Hong Kong or plan to move thereneedtobeawareofandplan for? If you’re a US citizen living outside the US, you will still need to file US tax returns and pay US tax on your worldwide income. Similarly, for UK citizens, if you’re a non-resident who owns UK property or has sources of income in the UK, you may still need to file UK tax returns, even if you have moved abroad. You will need to get to grips with your tax filing requirements in your home country and add the tax filing and payment deadlines to your calendar to avoid exposure to penalties. As well as compliance, you should consider whether your investments are tax favourable assets. Some investments can bring with them We caught upwith AllanWilkinson, Director of Buzzacott’s Expatriate Tax Services team, based in the company’s Hong Kong office. For nearly 50 years, Buzzacott has helped individuals, companies, partnerships and trusts from around the world to understand and comply with ever-increasing tax regulations and minimise their tax liabilities, from their two offices in the UK and Hong Kong. MOVING TO HONG KONG? HERE’S WHY YOU NEED AN EXPATRIATE TAX EXPERT Allan Wilkinson, Director, Buzzacott
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